United Technologies Corp.’s recent $30 billion Rockwell Collins purchase has pushed the Farmington conglomerate atop Connecticut’s list of Fortune 500 companies.
In total, Fortune magazine’s 2019 ranking listed 15 Connecticut companies among the nation’s top 500, based on overall revenue. In 2018, Connecticut had 17 companies in the Fortune 500.
With total revenue of $66.5 billion, UTC moved up five spots from last year to No. 46 due to its revenue rising by 11.1 percent. UTC, which employs about 240,200 people, in November completed its $30 billion acquisition of Iowa avionics manufacturer Rockwell Collins and announced plans to split into three separate companies by 2020.
UTC’s lead in Connecticut was also partially driven by Hartford health insurer Aetna, last year’s leader, being acquired by Rhode Island-based CVS Health, which ranked No. 8. This marks UTC’s 65th year on the list.
Bloomfield health insurer Cigna, meantime, jumped up eight spots to No. 65 with revenue of $48.6 billion, a nearly 17 percent increase vs. last year’s list. Cigna, employing 73,800 people, late last year completed its $67 billion acquisition of the nation’s largest pharmacy-benefit management company, Express Scripts.
Stamford’s Charter Communications, with revenue of $43.6 billion, also rose four spots on the list to No. 70. The telecommunications company has 98,000 employees, according to Fortune.
Other Connecticut companies in the Fortune 500 include:
161. Hartford Financial Services (Hartford) $19.8B
173. Synchrony Financial (Stamford) $18.2B
180. XPO Logistics (Greenwich) $17.2B
216. Booking Holdings (Norwalk) $14.5B
228. Stanley Black & Decker (New Britain) $13.9B
318. Xerox (Norwalk) $9.8B
355. Frontier Communications (Norwalk) $8.6B
358. Eversource Energy( Hartford/Boston) $8.4B
369. Amphenol (Wallingford) $8.2B
375. EMCOR Group (Norwalk) $8.1B
375. United Rentals (Stamford) $8B
379. W.R. Berkley Corp. (Greenwich) $7.6B
The Fortune 500 companies represent two-thirds of the U.S. gross domestic product (GDP) with $13.7 trillion in revenues.
Read the 65th annual Fortune 500 list here
This story has been updated
